NZDUSD | RBNZ’s Surprise 50bps Cut – Testing Channel SupportNZD/USDOANDA:NZDUSDAlchemyMarketsMacro Hook: The Reserve Bank of New Zealand shocked markets with a 50bps rate cut, maintaining a dovish tone and signaling room for further easing. NZD/USD dropped over 1% following the announcement. Technical Lens: Price is now retesting descending channel support near 0.5750 after the sharp post-decision selloff. RSI shows oversold conditions, suggesting potential for a short-term pause if support holds. Scenarios: If 0.5750 holds → potential rebound toward 0.5900 resistance. If 0.5750 breaks → opens room toward 0.5600 and extends the broader downtrend. Catalysts: Next RBNZ meeting in November (market now pricing another 25bps cut). U.S. CPI and Fed commentary shaping USD direction. Takeaway: 0.5750 is the key inflection zone — watch for confirmation if the channel base holds or gives way.